Unlocking Urban Potential: Vinhomes and Kinh Bac Enterprises Trailblaze with $7 Billion Ring Road Project in Hai Phong

Hai Phong Ring Road Construction

On March 11, Hai Phong commenced the construction of the Tan Vu – Hung Dao – Bui Vien road section of its Ring Road 2 project.

With a total investment of over VND 7,000 billion (from the city budget), the project includes construction costs of nearly VND 4,150 billion and land clearance costs of over VND 2,200 billion. The land clearance area covers nearly 113 hectares, involving nearly 1,650 households and 30 organizations.

The 11-kilometer-long road will be 68 meters wide (8 lanes for motor vehicles) and include the Hai Thanh Bridge, which spans over 1.1 kilometers across the Lach Tray River and is 36 meters wide. Additionally, a 12-hectare resettlement area will be constructed.

Upon completion, the Tan Vu – Hung Dao – Bui Vien section of Ring Road 2 is expected to contribute to the completion of Hai Phong’s urban infrastructure framework, particularly in the districts of Hai An, Duong Kinh, and Kien An.

A Series of Urban Projects in Anticipation

Even though the road construction has just begun, a number of urban projects have already been planned and developed along the 11-kilometer stretch of Hai Phong’s Ring Road 2. These include Vinhomes Duong Kinh, Happy Home social housing, Trang Cat urban and service area, and Golden Point Hai Phong.

First, the Vinhomes project in Duong Kinh

covers an area of 240 hectares in Hoa Nghia Ward (Duong Kinh District) and Dong Phuong and Dai Dong communes (Kien Thuy District). The total investment for this project is over VND 23,200 billion.

According to Vinhomes JSC’s environmental impact assessment report from December 2023, the total construction time for the project is estimated to be six years from the date of approval of the adjusted investment policy, i.e., from July 2023 to July 2029. The development of urban technical infrastructure and landscape will take place from Q4 2023 to Q4 2025.

Happy Home Social Housing Project

is being developed by Vinhomes JSC in Trang Cat Ward (Hai An District) since the beginning of 2024, with a total investment of VND 5,800 billion.

With a 28-hectare land area, the project comprises 27 apartment buildings ranging from 7 to 9 stories high and offering over 4,000 apartments. It is expected to be completed after five years of construction.

Golden Point Hai Phong Project

(Kien An District) has a total investment of VND 1,177 billion and is developed by Van Phuc Dien Real Estate Investment and Development JSC. It spans an area of 8 hectares and includes over 200 shophouses, adjacent houses, and 500 apartments.

Lastly, the Trang Cat Urban and Service Area Project

covers 585 hectares in Trang Cat Ward (Hai An District). The developer is Trang Cat Urban Development JSC, a subsidiary of Kinh Bac City Development Holding Corporation (KBC).

With a total adjusted investment of VND 69,000 billion, the project is expected to feature 8,655 low-rise residential lots, 3,256 villas, 7,178 apartments, and over 5,940 social housing units.

Regarding the progress of the Trang Cat Urban and Service Area Project, from the beginning of this year to Q1/2026, the investor will prepare the necessary procedures. This will be followed by the site clearance and infrastructure construction phase, which will last until the end of 2028.

The construction of the urban area’s buildings will take place from 2029 to Q2/2032. The entire urban area is expected to be operational and exploitable from Q3/2032 onwards.

Thus, in addition to completing Hai Phong’s infrastructure system, the Ring Road 2 project will also create the foundation for developing new urban areas, contributing to the construction of a modern city. It will further attract domestic and foreign investment in the economic and social development of the districts through which the road passes.